Wall Street analysts
have recently raised their price targets noting the Street hadn't expected this
strong of a first half of the year for DraftKings.
"The industry has been better than expected given single game
parlays and reduction in promos, so I think that's good for the overall space,
mainly DraftKings and FanDuel," Macquarie Securities managing director
surprised the Street to the upside during its first quarter earnings release in
May, posting revenue of $769.65 million versus Street estimates for $705.18
million. Most notably, the company guided for a full-year adjusted EBITDA loss
of $315 million in 2023, down from prior guidance for a loss of $400 million.
are realizing that Q2 expectations are too low for [DraftKings] and the
industry, and then we're trying to figure out what that means for their
commentary for 2023," Beynon said.
shares have responded accordingly, skyrocketing more than 150% to start the
Why the DKNG Weekly
Options Trade was Executed?…..
(NASDAQ: DKNG), the
sports-betting company, has seen plenty of momentum in 2023 as traction grows
in newly-added states. Year to date, the stock has more than doubled - yet even
so, there's still plenty of room for upside left.
The company's growth in active users has been driven by new state
legalizations - at one point, the market had feared that DraftKings'
pandemic-era uptick in monthly gamers and overall betting activity was due to
COVID shutdowns and bored consumers making bets at home - now, however, that
increased activity levels are organic and have been sustained. Also in
DraftKings' favor is the fact that it has reduced marketing spend and improved
gross margins, without materially impacting its growth rates.
The DKNG Weekly
Options Trade Explained.....
** OPTION TRADE: Buy DKNG JUL 28 2023 25.000 CALLS - price at last close was $1.66 - adjust accordingly.
Obviously the results will vary from trader to trader
depending on entry cost and exit price that was undertaken.
Entered the DKNG Weekly Options (CALL) Trade on Tuesday, June 27,
2023 for $1.67.
Sold half the DKNG Weekly Options contracts on Thursday, June 29, 2023,
for $2.58; a
potential profit of 54%.
Sold more of the DKNG Weekly Options contracts on Tuesday, July 11, 2023, for $4.35; a
potential profit of 160%.
Holding the remaining DKNG weekly options contracts
for further profit before expiry.
Don’t miss out on further trades – become a
Where to Now?
Expect Draftkings Inc stock to keep powering
upwards due to several catalysts.....
- Same game parlays - are products where bettors
combine the chances of multiple separate things happening within the same game
into one bet. The increase of same game parlays and movement from a
"sharp," or very engaged gambler, to a general audience are likely
- Legalization - Since online sports betting was cleared for
state-by-state legalization in 2018, multiple states have been added each year.
It's been an important part of the growth story for companies like DraftKings
as new markets have boosted revenues.
is a major player in a relatively new and fast-growing space. After the removal
of the ban on sports betting by the Supreme Court in 2018, the sector has
exploded, and around 33 states currently allow online betting of some sort in
their territory. In these markets, depending on the state, Draftkings has
around a fifth share of the pie.